Cryptocurrency Market Update: Bitcoin Holds Above $70,000, Altcoins See Mixed Movement
Bitcoin (BTC) Holds Steady Above $70,000 Mark Ahead of Halving Event
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, managed to remain stable above the $70,000 mark early Friday. The approaching Bitcoin Halving event seems to be instilling confidence among investors, leading to a positive sentiment in the market.
Other popular altcoins such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), Solana (SOL), and Litecoin (LTC) saw a mix of gains and dips as the overall Market Fear & Greed Index stood at 75 (Greed) out of 100, according to CoinMarketCap data. The ONDO token emerged as the biggest gainer with a 24-hour jump of over 8 percent, while AAVE became the biggest loser with a 24-hour dip of over 6 percent.
The global crypto market cap stood at $2.63 trillion at the time of writing, registering a 24-hour gain of 0.01 percent.
Bitcoin price stood at $70,902.64, marking a 24-hour gain of 0.40 percent, as per CoinMarketCap. Ethereum price was at $3,535.69, with a 24-hour loss of 0.63 percent, while Dogecoin registered a 24-hour jump of 0.83 percent, currently priced at $0.1978.
Litecoin saw a 24-hour gain of 1.51 percent, trading at $98.23, and Ripple (XRP) price stood at $0.6117, seeing a 24-hour dip of 1.10 percent. Solana (SOL) price was at $174.06, marking a 24-hour gain of 0.85 percent.
In terms of top gainers and losers, ONDO, BitTorrent (New) (BTT), Helium (HNT), Bittensor (TAO), and Pepe (PEPE) were the top gainers, while Aave (AAVE), ORDI (ORDI), Uniswap (UNI), Jupiter (JUP), and Filecoin (FIL) were the top losers over the past 24 hours.
Experts in the crypto industry have shared their insights on the current market scenario. Mudrex co-founder and CEO Edul Patel mentioned the bullish sentiment ahead of the Bitcoin Halving event, while Parth Chaturvedi from CoinSwitch Ventures highlighted the mining hash rate and its impact on Bitcoin’s price.
Rajagopal Menon from WazirX and Sathvik Vishwanath from Unocoin also provided their perspectives on Bitcoin and Ethereum’s price movements and the market outlook.
As the crypto market continues to show resilience and stability, investors are advised to exercise caution and seek expert advice before making any investment decisions in the highly volatile cryptocurrency space.
